Joint IMF-WBG Staff Note: DSSI Fiscal Monitoring Update PDF Download
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Author: International Monetary Publisher: International Monetary Fund ISBN: 1513595385 Category : Business & Economics Languages : en Pages : 18
Book Description
The COVID-19 pandemic put significant pressures on fiscal accounts during 2020 through a contraction of revenues and increased spending needs to tackle the pandemic and its economic fallout. In response to these pressures, the countries benefitting from the Debt Service Suspension Initiative (DSSI) have faced difficult choices to reprioritize spending, especially capital spending, even as they allowed higher overall fiscal deficits. This note summarizes the findings from the update of the fiscal monitoring system for the COVID-19 Debt Service Suspension Initiative (DSSI). The DSSI was endorsed by the G20 Finance Ministers on April 15, 2020 and extended twice in October 2020 (until end-June 2021) and April 2021 (until end-2021). During May–December 2020 (the first phase), 43 countries participated, and 42 countries have formally requested their participation in the initiative during January–June 2021 (the second phase, as of July 30, 2021).
Author: International Monetary Publisher: International Monetary Fund ISBN: 1513595385 Category : Business & Economics Languages : en Pages : 18
Book Description
The COVID-19 pandemic put significant pressures on fiscal accounts during 2020 through a contraction of revenues and increased spending needs to tackle the pandemic and its economic fallout. In response to these pressures, the countries benefitting from the Debt Service Suspension Initiative (DSSI) have faced difficult choices to reprioritize spending, especially capital spending, even as they allowed higher overall fiscal deficits. This note summarizes the findings from the update of the fiscal monitoring system for the COVID-19 Debt Service Suspension Initiative (DSSI). The DSSI was endorsed by the G20 Finance Ministers on April 15, 2020 and extended twice in October 2020 (until end-June 2021) and April 2021 (until end-2021). During May–December 2020 (the first phase), 43 countries participated, and 42 countries have formally requested their participation in the initiative during January–June 2021 (the second phase, as of July 30, 2021).
Author: Department of Economic and Social Affairs Publisher: Stylus Publishing, LLC ISBN: 9213584075 Category : Business & Economics Languages : en Pages : 307
Book Description
This is the United Nations definitive report on the state of the world economy, providing global and regional economic outlook for 2022 and 2023. The World Economic Situation and Prospects 2022 will examine the recovery of the global economy from the COVID-19 pandemic. In addition to presenting the latest UN growth forecasts, the report will provide a comprehensive assessment of economic developments, risk factors, and policy challenges. This year’s thematic chapter will discuss the macroeconomic and distributional consequences of monetary policy, with particular focus on unconventional measures such as quantitative easing (QE).
Author: World Bank Group Publisher: World Bank Publications ISBN: 1464819505 Category : Business & Economics Languages : en Pages : 334
Book Description
Global growth is expected to decelerate sharply, reflecting synchronous policy tightening aimed at containing very high inflation, worsening financial conditions, and continued disruptions from Russia’s invasion of Ukraine. Investment growth in emerging market and developing economies (EMDEs) is expected to remain below its average rate of the past two decades. Further adverse shocks could push the global economy into recession. Small states are especially vulnerable to such shocks because of the reliance on external trade and financing, limited economic diversification, elevated debt, and susceptibility to natural disasters. Against this backdrop, it is critical that EMDE policy makers ensure that any fiscal support is focused on vulnerable groups, that inflation expectations remain well anchored, and that financial systems continue to be resilient. Urgent global and national efforts are also needed to mitigate the risks of global recession and debt distress in EMDEs and to support a major increase in EMDE investment.
Author: OECD Publisher: OECD Publishing ISBN: 9264655719 Category : Languages : en Pages : 225
Book Description
The global recovery from the COVID-19 pandemic is uneven and becoming imbalanced. The OECD Economic Outlook, Volume 2021 Issue 2, highlights the continued benefits of vaccinations and strong policy support for the global economy, but also points to the risks and policy challenges arising from supply constraints and rising inflation pressures.
Author: World Bank Group Publisher: World Bank Publications ISBN: 146481760X Category : Business & Economics Languages : en Pages : 420
Book Description
Although the global economy is emerging from the collapse triggered by COVID-19, the recovery is likely to be subdued, and global GDP is projected to remain well below its pre-pandemic trend for a prolonged period. Several risks cloud the outlook, including those related to the pandemic and to rapidly rising debt. The pandemic has further diminished already-weak growth prospects for the next decade. Decisive policy actions will be critical in raising the likelihood of better growth outcomes while warding off worse ones. Immediate priorities include supporting vulnerable groups and ensuring a prompt and widespread vaccination process to bring the pandemic under control. Although macroeconomic policy support will continue to be important, limited fiscal policy space amid high debt highlights the need for an ambitious reform agenda that bolsters growth prospects. To address many of these challenges, global cooperation will be key. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces.
Author: International Monetary Fund. Strategy, Policy, & Review Department Publisher: International Monetary Fund ISBN: 1513529110 Category : Business & Economics Languages : en Pages : 56
Book Description
Public debt in lower-income economies (LIEs) has risen in recent years, with half of the countries covered in this report now assessed to be at high risk of or already in debt distress.
Author: International Monetary Fund. African Dept. Publisher: International Monetary Fund ISBN: 1513547283 Category : Business & Economics Languages : en Pages : 60
Book Description
This paper presents Liberia’s Request for Disbursement Under the Rapid Credit Facility. The economic impact of the pandemic is hitting the poorest with little social safety net, and food security of those relying on uncertain daily income is a pressing concern. The authorities have responded by taking revenue and expenditure measures to support emergency food aid for the poor; improving monitoring and control of spending; and safeguarding scarce foreign exchange reserves. Preliminary data suggest that performance under the Extended Credit Facility-supported program has been weak, though the authorities are fully committed to address the weaknesses. In order to address the shortage of Liberian dollars and the growing need for more US dollar liquidity, the authorities have contracted the printing of additional Liberian dollar bank notes and are formulating measures for inclusion in the FY2021 budget to augment US dollar liquidity.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 161635156X Category : Business & Economics Languages : en Pages : 230
Book Description
The global financial crisis of recent years and the associated large fiscal deficits and debt levels that have impacted many countries underscores the importance of reliable and timely government statistics and, more broadly, public sector debt as a critical element in countries fiscal and external sustainability. Public Sector Debt Statistics is the first international guide of its kind, and its primary objectives are to improve the quality and timeliness of key debt statistics and promote a convergence of recording practices to foster international comparability and as a reference for national compilers and users for compiling and disseminating these data. Like other statistical guides published by the IMF, this one was prepared in consultation with countries and international agencies, including the nine organizations of the Inter-Agency Task Force on Finance Statistics (TFFS). The guide's preparation was based on the broad range of experience of our institutions and benefitted from consultation with national compilers of government finance and public sector debt statistics. The guide's concepts are harmonized with those of the System of National Accounts (2008) and the Balance of Payments and International Investment Position Manual, Sixth Edition.
Author: International Monetary
Author: International Monetary
Author: Department of Economic and Social Affairs
Author: World Bank Group
Author: OECD
Author: World Bank Group
Author: International Monetary Fund. Strategy, Policy, & Review Department
Author: International Monetary Fund. African Dept.
Author: International Monetary Fund. African Dept.
Author: 
Author: International Monetary Fund